Tax Planning Services

cannabis tax services

Many cannabis businesses struggle to increase profits because of tax liabilities. The IRS requires that income be reported from whatever source it stems from. So, even though marijuana is still classified as an illegal substance under federal law, if you sell it the U.S. government wants their cut which can be pretty high. Without an experienced CPA firm on your side, you could lose a lot of your profits to taxes. Turn to KWB Accounting PC for tax services designed to reduce taxes for the cannabis industry. We’ll show you how to maintain compliance and develop strategies that save money on taxes and protect your business.

When you work with our cannabis CPA firm we’ll make sure your business takes advantage of every allowable deduction under current tax guidelines. We understand how to determine what expenses can be deducted as Cost of Goods Sold and identify opportunities for tax savings within the confines of Section 280E. If your business gets audited, you can count on us to prove that your deductions were legitimately allocated and defend your tax practices with the auditor.

Marijuana businesses at every stage of life minimize taxes, increase revenues, and beat tax problems with our support. Find out how we can implement a strategy for your business that maintains compliance while encouraging profitability. Call us today at 800-588-7835 or request your free consultation online now.

Cannabis Tax Compliance Services

  • Section 280E and IRS Code 471 compliance
  • Federal and state tax return preparation
  • Guidance on properly allocating expenses
  • Business and individual income tax preparation
  • Tax audit representation